Ontario Teachers Pension Plan Board Makes New $292,000 Investment in Fox Corporation (NASDAQ:FOXA)

Key Points

• The Ontario Teachers Pension Plan Board has made a new investment in Fox Corporation, acquiring 5,163 shares valued at approximately $292,000.
• Fox Corporation has announced a dividend increase from $0.18 to $0.28 per share, with the upcoming payment scheduled for September 24th.
• Analysts have mixed opinions on FOX stock, with an average rating of "Hold" and target prices ranging from $55.93 to $65.00.

Ontario Teachers Pension Plan Board acquired a new position in shares of Fox Corporation (NASDAQ:FOXA - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 5,163 shares of the company's stock, valued at approximately $292,000.

Other institutional investors also recently bought and sold shares of the company. Hemington Wealth Management grew its stake in FOX by 217.6% during the first quarter. Hemington Wealth Management now owns 524 shares of the company's stock worth $29,000 after buying an additional 359 shares during the period. MV Capital Management Inc. boosted its stake in shares of FOX by 929.9% in the first quarter. MV Capital Management Inc. now owns 690 shares of the company's stock valued at $39,000 after purchasing an additional 623 shares during the period. Sentry Investment Management LLC purchased a new position in shares of FOX in the first quarter valued at $43,000. Allworth Financial LP boosted its stake in shares of FOX by 55.2% in the first quarter. Allworth Financial LP now owns 787 shares of the company's stock valued at $45,000 after purchasing an additional 280 shares during the period. Finally, TCTC Holdings LLC boosted its stake in shares of FOX by 112.5% in the first quarter. TCTC Holdings LLC now owns 797 shares of the company's stock valued at $45,000 after purchasing an additional 422 shares during the period. 52.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FOXA has been the subject of several analyst reports. UBS Group set a $65.00 target price on shares of FOX and gave the company a "buy" rating in a research note on Wednesday, June 25th. Cowen restated a "hold" rating on shares of FOX in a research note on Tuesday, May 13th. Guggenheim restated a "buy" rating and issued a $62.00 target price (up from $60.00) on shares of FOX in a research note on Wednesday, June 25th. Bank of America upped their target price on shares of FOX from $60.00 to $65.00 and gave the company a "buy" rating in a research note on Wednesday, June 25th. Finally, Cfra Research raised shares of FOX from a "hold" rating to a "moderate buy" rating in a report on Tuesday, August 5th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $55.93.

FOX Stock Up 0.3%

FOX stock opened at $54.02 on Friday. The stock has a market cap of $24.29 billion, a price-to-earnings ratio of 11.00, a PEG ratio of 1.22 and a beta of 0.54. The company has a current ratio of 2.91, a quick ratio of 2.33 and a debt-to-equity ratio of 0.55. The company's 50-day moving average price is $55.39 and its two-hundred day moving average price is $53.73. Fox Corporation has a 52 week low of $38.72 and a 52 week high of $58.74.

FOX (NASDAQ:FOXA - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $1.27 EPS for the quarter, beating the consensus estimate of $1.01 by $0.26. The firm had revenue of $3.29 billion for the quarter, compared to analysts' expectations of $3.12 billion. FOX had a net margin of 13.88% and a return on equity of 18.86%. FOX's quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the company earned $0.90 EPS. On average, analysts expect that Fox Corporation will post 4.38 EPS for the current fiscal year.

FOX Increases Dividend

The business also recently announced a dividend, which will be paid on Wednesday, September 24th. Shareholders of record on Wednesday, September 3rd will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Wednesday, September 3rd. This is a positive change from FOX's previous dividend of $0.18. FOX's dividend payout ratio is 11.41%.

Insider Buying and Selling

In other news, CFO Steven Tomsic sold 39,642 shares of FOX stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $55.30, for a total value of $2,192,202.60. Following the transaction, the chief financial officer owned 133,923 shares of the company's stock, valued at $7,405,941.90. The trade was a 22.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 21.77% of the company's stock.

About FOX

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through four segments: Cable Network Programming, Television, Credible, and The FOX Studio Lot. The Cable Network Programming segment produces and licenses news and sports content for distribution through traditional cable television systems, direct broadcast satellite operators and telecommunication companies, virtual multi-channel video programming distributors, and other digital platforms primarily in the U.S.

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